Quantum Capital Management LLC NJ Boosts Holdings in Brown & Brown, Inc. $BRO

Quantum Capital Management LLC NJ lifted its stake in Brown & Brown, Inc. (NYSE:BRO) by 169.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,796 shares of the financial services provider’s stock after purchasing an additional 164,519 shares during the quarter. Brown & Brown accounts for approximately 2.7% of Quantum Capital Management LLC NJ’s holdings, making the stock its 16th biggest position. Quantum Capital Management LLC NJ owned approximately 0.08% of Brown & Brown worth $24,554,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BRO. Cornerstone Planning Group LLC raised its holdings in Brown & Brown by 423.1% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Brown & Brown in the second quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Brown & Brown during the second quarter valued at approximately $49,000. Evelyn Partners Investment Management LLP purchased a new stake in shares of Brown & Brown during the second quarter valued at approximately $52,000. Finally, True Wealth Design LLC increased its position in shares of Brown & Brown by 4,369.2% during the third quarter. True Wealth Design LLC now owns 581 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 568 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Brown & Brown Trading Up 0.5%

Shares of BRO stock opened at $73.48 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.55. Brown & Brown, Inc. has a 12-month low of $65.68 and a 12-month high of $125.68. The stock has a market capitalization of $25.01 billion, a P/E ratio of 22.96, a P/E/G ratio of 1.97 and a beta of 0.79. The firm’s 50 day moving average is $74.54 and its 200 day moving average is $82.64.

Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, January 26th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. Brown & Brown had a net margin of 17.84% and a return on equity of 12.93%. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. Research analysts expect that Brown & Brown, Inc. will post 4.18 earnings per share for the current year.

Brown & Brown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, February 4th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Brown & Brown’s payout ratio is presently 20.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BRO. Bank of America decreased their price objective on shares of Brown & Brown from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Argus upgraded Brown & Brown to a “hold” rating in a research note on Tuesday, January 27th. Morgan Stanley reduced their target price on Brown & Brown from $85.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. UBS Group restated a “neutral” rating and issued a $81.00 price target (down from $90.00) on shares of Brown & Brown in a research note on Thursday, January 29th. Finally, Barclays lowered their price target on Brown & Brown from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $90.43.

Brown & Brown Company Profile

Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.

Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.